Vero Beach Market Report for 32963 March 2022

The Vero Beach Real Estate Market Report for zip code 32963 in March 2022 shows that we are still in an Extreme Seller’s Market . Buyers looking for homes on the barrier island are finding very few homes to choose from amid a very low inventory. As the winter season is winding down, buyers are increasingly active looking for a property on the barrier island . The market is expected to continue to be challenging for buyers and favors the sellers who are pushing prices even higher.

Sales in March 2022 were higher than in February as buyers got more active before the end of the traditionally strong winter season. Following are some statistics for this month.

Vero Beach Market for Single Family homes in 32963

• In March 2022, the Vero Beach single-family market in 32963 was again an Extreme Seller’s Market with a 76% Sales Ratio.
• There were only 46 single family homes for sale on the island and 35 were sold in March 2022.
• The inventory (homes available for sale) In February slightly decreased compared to last month and it was 62% lower than in the same period in 2021.
• Homes sold for a median of 100% of list price in March 2022, another indication of an extremely competitive real estate market for single family homes on the island.
• The most active price band was again single family homes priced from $1,000,000 to $2,00,000 , with 14 sales and sales ratio of 107%!.
• In March 2022 the median sales price for single-family homes increased by 9% to $1,350,000, mainly due to sales of higher priced homes. The prices continue their uptrend after a month of stabilization but the indication is that prices will remain high for the rest of the season due to increased competition.
• The most active market for single family homes on the island in March 2022 was the Beach City area with 17 homes for sale, 19 Pending Sales, 15 sales, and 1.1 months of remaining inventory (absorption rate) and an Extreme Seller’s Market .

Vero Beach Market for Attached Homes/Condominiums in 32963

• There were 24 condos for sale on the island and 22 were sold in March 2022.
• The Vero Beach condominium market in 32963 was very active and still an Extreme Seller’s Market with an 92% Sales Ratio amid low inventory.
• The inventory (condos available for sale) in March 2022 decreased by 4% compared to January and 54% lower than the same period in 2021. The lack of available condos for sale continues to be challenging for the buyers.
• Condos sold again for a median of 100% of list price in March 2022, another testament to a very strong and extremely competitive market for condos on the island.
• The most active price band was $1,000,000 to $2,000,000, with 4 sales and a sales ratio of 100%.
• The median sales price for attached homes (condominiums) in March 2022 jumped by 57% to $700,000 compared to February, mainly due to sales of higher priced condos.
• The most active market for condos in March 2022 on the barrier island was the Central Beach area with 12 condos for sale, 42 Pending Sales, 12 sales, 1.0 months of remaining inventory (absorption rate) and an Extreme Seller’s Market.

For a more comprehensive market analysis for a specific Vero Beach area or neighborhood in 32963 or any other zip code use the request form below.